Unemployment falls back to 3.5% on jobs rebound

Thursday 16 March 2023

The Australian Bureau of Statistics (ABS) has released labour force data for February, with the unemployment rate falling back to 3.5% on the back of a 64,600 increase in jobs:

The underemployment rate also fell by 0.3%, while the number of hours worked rose 3.9%.

The participation rate rose by 0.1% to 66.6%.

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About the author

Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.